» Prices for Top Used Vehicles Funded Through the Dealertrack Canada Network Remained Steady to End 2018

Prices for Top Used Vehicles Funded Through the Dealertrack Canada Network Remained Steady to End 2018

Mississauga, Ont.—January 31, 2018—As 2018 came to a close, the vast majority of the Top 10 Funded Used Vehicles* sold through the Dealertrack Canada network saw neutral annual increases compared to the same period a year before.

Dealertrack

Mississauga, Ont.—January 31, 2018—As 2018 came to a close, the vast majority of the Top 10 Funded Used Vehicles* sold through the Dealertrack Canada network saw neutral annual increases compared to the same period a year before.

With six of the vehicles recording year-over-year (YOY) increases and four recording declines, the Average Cash Price of the Top 10 Funded Used Vehicles in December 2018 remained relatively flat with a rise of only 0.9% compared to 12 months earlier.

Despite the hold on pricing in 2018, the total number of Top 10 Funded Used Vehicles the Dealertrack Canada online credit application network rose by 4.1%.

Dealertrack

Among the top 10 used vehicles, the second place Honda Civic compact car saw the largest YOY Average Cash Price gain with an 8.4% increase to $15,310. Recording the most significant annual price drop, down 6.8% to $18,356, was the tenth place Dodge Journey SUV.

Dealertrack

Dealertrack is the leading provider of web-based software solutions and services for all major segments of the automotive industry, and Canada’s largest and most accurate source of automotive retail sales data. Because of this, Dealertrack clients benefit from having access to Customized Dealertrack Dealer Reports that consolidate a vast amount of non-personal demographic information, market trends and preferences from the Dealertrack online credit application network.

For example, some key insights from December 2018’s overall Top 10 Funded Used Vehicles data include (with December 2017 data in brackets):

  • the most popular trade-in year was 2015 (2014)
  • the average 2018 Top 10 Funded Vehicle was 40.0 months old (40.7)
  • the average cash price paid was $20,088 ($19,539)
  • used buyers average annual income was $57,777 ($55,318)

In Canada, over 5.2 million credit applications are submitted annually through Dealertrack Network for vehicle financing. Our reports are designed to leverage this information and provide insights to help Canadian automotive dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers identify opportunities to improve business results.

Want to see the full top funded used vehicle report or learn about other reports available from Dealertrack Canada? Call us at (866) 830-3863 or email us at dealersupport@dealertrack.com.

*Based on the total number of funded through the Dealertrack Canada online credit application network.

Source: Dealertrack Canada a division of Cox Automotive Canada.

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